www.zillow.com/research/

APRIL2019 Indianapolis Metro

National Rents

Current: $1,477Monthly Change: 0.2%Annual Change: 2.6%

Indianapolis Metro Rents

Current: $1,237Monthly Change: 0.2%Annual Change: 3.3%

Breakeven Horizon1.5 years

Major Cities - Rents

IndianapolisCurrent: $1,139Monthly Change: 0.1%Annual Change: 3.4%Breakeven Horizon: 1.4 years

CarmelCurrent: $2,152Monthly Change: 0.1%Annual Change: 2.8%Breakeven Horizon: 1.9 years

GreenwoodCurrent: $1,332Monthly Change: 0.4%Annual Change: 1.1%Breakeven Horizon: 1.6 years

FishersCurrent: $1,654Monthly Change: 0.3%Annual Change: 1.1%Breakeven Horizon: 1.9 years

NoblesvilleCurrent: $1,443Monthly Change: 0.3%Annual Change: 3.7%Breakeven Horizon: 2 years

Esri, HERE, DeLorme, MapmyIndia, © OpenStreetMap contributors, and the GIS user community

City ZRI Year-over-Year-12.4% -12.3% - -5.5% -5.4% - -1.0% -0.9% - -0.1% 0.2% - 0.7% 0.8% - 2.1% 2.2% - 3.9% 4.0% - 5.3% 5.4% - 11.0%

Metro Cities: Top/Bottom by Annual Rent AppreciationTop:Lapel 11%

Princes Lakes 8.2%

Lebanon 7.9%

Markleville 7.3%

North Salem 5.3%

Bottom:Zionsville -12.4%

New Palestine -5.5%

Waldron -2.1%

Paragon -1.5%

Wilkinson -1.5%

Metro Neighborhoods: Top/Bottom by Annual Rent AppreciationTop:Devonshire 13.8%

Nora-Far Northside 13.7%

Fountain Square 12.8%

North Central 12.3%

Allisonville 10.8%

Bottom:Trader’s Point -0.7%

North Perry 0.7%

Edgewood 1%

Southeast 1%

Southdale 1.2%

How do we measure rents? To track rents, we use the Zillow Rent Index (ZRI). The

ZRI is the midpoint of estimated rents in a given region. Half the estimated rental prices

are above this number and half are below.

What is the Breakeven Horizon? The Breakeven Horizon in the number of years you

must live in a home before owning the same home becomes more financially advantageous

than renting the home. For example, if ’City X’ had a Breakeven Horizon of 5.5 years,

it is financially better for you to rent in ’City X’ unless you plan on living there for more

than 5.5 years.

APRIL2019

*Top cities and neighborhoods by size within the metro are listed. Additional counties, cities, neighborhoods and zip codes may be available online at

www.zillow.com/research/data or by emailing press@zillow.com

Zillow Research:Zillow R© is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the placethey call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics andanalytics bureau led by Zillow’s Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housingdata and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price ExpectationsSurvey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow HomeValue Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence inlocal housing markets, both currently and over time. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ: Z), andheadquartered in Seattle.

www.zillow.com/research/

Largest Cities Covered by Zillow

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Alexandria 1.1 790 2.1 0.6Anderson 681 5.1 700 0.6Avon 1.7 1,415 0.3 1,350 0.8Beech Grove 1.2 1,022 2.7 0.9Brownsburg 1.6 1,397 0.5 1,470 0.8Carmel 1.9 2,152 2.8 1,800 0.8Danville 1.6 1,316 1.6 0.8Edinburgh 1.2 1,051 3.1 0.8Elwood 720 4.8 0.6Fishers 1.9 1,654 1.1 1,580 0.8Franklin 1.4 1,190 0.4 1,300 0.8Greenfield 1.3 1,170 0.7 0.8Greenwood 1.6 1,332 1.1 1,400 0.7Indianapolis 1.4 1,139 3.4 1,020 0.8Lawrence 1.6 1,247 2.6 1,250 0.8

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Lebanon 1.4 1,158 7.9 0.8Martinsville 1.3 911 1.1 0.8McCordsville 1.6 1,565 -1.1 0.7Mooresville 1.6 1,241 2.1 0.8Nashville 1.7 1,195 1.4 0.8New Palestine 1.7 1,457 -5.5 0.7Noblesville 2 1,443 3.7 1,400 0.8Plainfield 1.6 1,351 0.2 0.8Shelbyville 1.3 987 -1.4 0.7Sheridan 1.6 1,295 0.2 0.8Speedway 1.3 1,138 3.7 0.9Westfield 2.1 1,565 1.4 1,500 0.8Zionsville 2.1 2,094 -12.4 0.9

Largest Neighborhoods Covered by Zillow

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Augusta 1.5 1,292 3.5 0.7Chapel Hill 1.4 1,175 2.5 1,280 0.8Crooked Creek 1.4 1,191 2.7 0.8Downtown 2.2 1,638 4.1 1,900 1.3Eagle Creek 1.5 1,201 2.4 0.8Eagledale 0.9 798 6 850 0.8Edgewood 1.5 1,144 1 0.8Fall Creek 1.9 1,384 6.6 0.8Far Eastside 0.9 1,036 4.1 950 0.7Garden City 1 848 6.5 0.8

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Irvington 1.4 1,019 2.5 0.8Meridian Kessler 2.1 1,831 7.4 1Near Eastside 770 3.2 720 0.7Near Southeast 755 2 770 0.8Near Westside 732 4.7 720 0.7North High School 1 1,018 3.4 0.7Snacks 1.4 1,207 1.9 1,250 0.8South Emerson 1.4 1,175 2.3 0.8South Franklin 1.8 1,304 2.4 0.7South Perry 1.6 1,200 2 0.8